EUR/USD
Current level – 1.1062
The EUR/USD is consolidating between the levels of 1.1060-1.1090 and expectations for a test of the resistance at 1.1090 remain intact. If bulls manage to push through, appreciation of the euro against the greenback and a test of the next major resistance at 1.1140 are likely. In the negative direction, only a break of the support zone at around 1.1017 could deepen the sell-off towards the next levels of support. Today, the Preliminary Manufacturing PMI for Germany (08:30 UK time) and the Preliminary PMI Services for the US (14:45 UK time) could cause some volatility.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.1090 | 1.1170 | 1.1060 | 1.0990 |
| 1.1140 | 1.1200 | 1.1020 | 1.0880 |
USD/JPY
Current level – 108.47
The pair is currently trading near the resistance level at 108.65. If bulls manage to break through successfully, expectations are for a move towards the next resistance levels at 108.90, followed by 108.90 and 109.45. On the downside, if bears manage to break through the support level at 108.20, the expectations will be for further depreciation of the US Dollar against the Yen.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.64 | 109.20 | 108.20 | 107.05 |
| 108.90 | 109.45 | 107.90 | 106.60 |
GBP/USD
Current level – 1.2926
The Cable is still not able to find a clear direction for its next move and is currently trading between the levels of 1.2890-1.2965. Expectations for the GBP/USD are for another test of the main resistance area at 1.2965 as bulls stepped in around 1.2880-1.2900 and the 1.2861 level was not broken. On the downside, only a break of the support zone at 1.2766 could be a reason for further price declines.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2965 | 1.3000 | 1.2890 | 1.2820 |
| 1.3000 | 1.3180 | 1.2860 | 1.2760 |
